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Hydrofluoroether Market 2022 Major Players, Competitive Spectrum, Revenue Share and Sales Projections by 2030

Report Ocean publicizes a new report on the global Hydrofluoroether market report contains numerous information about factors, such as market restrains, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the global Hydrofluoroether market growth.

Market Introduction

The global Hydrofluoroether market held a market size of USD 120.65 Million in 2020 and is expected to reach USD 204.34 Million by 2027. The hydrofluoroether market is anticipated to grow at a CAGR of 5.5% over the assessment period. The market size by volume for Hydrofluoroether was 6,470.7 Tons in 2020.

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Hydrofluoroether (HFE) has attributes such as chemical inertness, non flammability, low toxicity, zero ozone depletion potential (ODP), and non-corrosiveness. HFEs are being utilized as third-generation replacements to hydrochlorofluorocarbons (HCFCs), chlorofluorocarbon (CFCs), and perfluorocarbons (PFCs) due to their relatively low global warming potential and nearly zero stratospheric ozone depletion. The demand for HFEs as cleaning solvent is anticipated to surge owing to the increasing requirement of precision cleaning processes in the medical, aerospace, military, and analytical equipment industries.

In addition, as authorities across the globe are passing guidelines on reducing the utilization of hydrofluorocarbons, hydrochlorofluorocarbon and chlorofluorocarbons, the demand for HFEs in heat transfer solutions, aerosol formulation, and lubricants is expected to increase at a considerable rate. For instance, in October 2016, with the leadership of the United States, an amendment to phase down HFCs under Montreal Protocol was adopted by 197 countries. The countries committed to cut the production and consumption of HFCs by more than 80% over the next 30 years, under this amendment. Further, as per the data published by the Ministry of Environment, Forest and Climate Change, in January 2020, India attained a complete phase out of hydrochlorofluorocarbon.

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The surging use of HFE as electrolytes in lithium-ion batteries due to its attributes such as low freezing temperature, less viscosity and non-inflammability is expected to support the market growth. Further, the increasing adoption of electric vehicles which require lithium batteries for better performance is expected to provide favourable conditions for market growth as electric vehicle manufacturers are shifting to HFEs for developing high-energy density battery products.

Growth Influencers:

Increasing Recognition of Immersion Cooling Techniques

In recent years, the number of data centers globally has increased significantly. As per the data published by the Office of Energy Efficiency & Renewable Energy, in the U.S., there are nearly 3 million data centers. These data centers have tremendous costs such as cost of energy consumption, footprint, and water use. According to the U.S. Environmental Protection Agency (EPA), the data centers in the U.S. consume high amounts of electricity, about 2% of total energy consumption. In addition, much of the energy is consumed to run fans and chiller units to cool computer hardware.
For managing costs as well maintaining performance requirements, the data centers are increasingly using immersion cooling techniques. HFEs are being used significantly as a dielectric liquid in immersion cooling owing to their thermal conduction properties and non-inflammability.

Rapidly Superseding its Alternatives (Chlorofluorocarbons and Hydro Chlorofluorocarbons)

The properties of HFEs resemble that of Chlorofluorocarbons and Hydrochlorofluorocarbons. HFEs are being used in industrial cleaning applications. It has replaced solvents such as CFC-113 and n-propyl bromide. The emission of HFEs solvents is less as compared to its alternatives. HFEs have significantly lower global warming potential which supports their adoption. Further, the increasing prohibition on the use CFCS and HCFCS is also a key factor supporting market growth.

Lack of Standards and Regulations

Currently, no regulations or standards are governing HFEs emissions. However, as HFEs have low atmospheric life and few compounds in the category have considerably greater global warming potential than carbon dioxide, the growing usage of HFE can lead to global warming in the near future. This factor may negatively affect the growth of HFE market.

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Segments Overview

The global hydrofluoroether market has been segmented into product and application.

By Product

• Pure HFEs
• HFE Blends
• Co-solvent system

The pure HFEs segment accounts for the largest market share of more than 80% based on product type. The co-solvent system is expected to be the fastest growing segment over the forecast period.

By Application

• Cleaning solvent
• Blowing agents
• Refrigerants
• Dry etching agents
• Coating and lubricants
• Heat transfer
• Others

The cleaning solvent segment holds the largest market share of more than 35% based on application. Hydrofluoroether is being widely used as cleaning solvents owing to its safety profile as it is non flammable and less toxic which helps in addressing workers’ safety. In addition, HFEs offers a superior environmental profile. Further, HFE is cost-effective which further supports its adoption.

The dry etching agents segment is anticipated to be the fastest-growing application segment over the assessment period.

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Regional Overview

On the regional basis, the global hydrofluoroether market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America holds a major market share of about more than 30% in the global HFEs market. The factors such as the growing adoption of HFEs in several industries like electronics, the ban of CFCs and HCFCs, and the rising number of data centers are supporting the market growth in this region.

The Asia Pacific hydrofluoroether market is expected to be the fastest-growing market over the forecast period. The market growth in this region is attributed to the growing demand for lithium-ion batteries in Japan, South Korea, and China and the rapidly developing industrial sector. According to an article published by Forbes, China accounts for 73% of lithium cell manufacturing capacity globally. In addition, in recent years, the U.S. has increased imports of lithium cells from China.

Competitive Landscape

Prominent players in the global hydrofluoroether market include 3M, AGC Inc., Tianhe Chemical Group Limited, Shandong Huaxia Shenzhou New Material, Quanzhou SICONG New Material Development Co., Ltd, SANMING HEXAFLUO CHEMICALS CO., LTD, China Fluoro Technology Co., Ltd., and Guangzhou Jinhong Chemical Co., Ltd.

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The top four players in the global hydrofluoroether market has cumulative market share of more than 80%. 3M is one of the prominent players in the market. 3M has products such as 3M Novec 71DE HFE fluid, 7100 Engineered Fluid, 72DE, among others.

Table Of Content:

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation

……..and view more in complete table of Contents

The global hydrofluoroether market report offers insights on the below pointers:

1. Market Penetration: The research report provides comprehensive data on the market offered by the major players
2. Market Development: The report provides detailed analysis about emerging markets and examines penetration across mature segments of the markets
3. Market Diversification: The report offers detailed information about untapped geographies, recent developments, and investments
4. Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of the leading players.
5. Product Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

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The global hydrofluoroether market report answers questions such as:

1. What is the market size, market volume and forecast of the Global Hydrofluoroether Market?
2. What are the inhibiting factors and impact of COVID-19 on the Global Hydrofluoroether Market during the assessment period?
3. Which are the products/segments/applications to invest in over the assessment period in the Global Hydrofluoroether Market?
4. What are the technology trends and regulatory scenario in the Global Hydrofluoroether Market?
5. What strategies are considered favorable for entering the Global Hydrofluorether Market?

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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Updated : 2022-05-27 06:02 GMT+08:00